Module 5 Review (Economics)

Consumption + Investment + Government Spending + (Exports - Imports)

What is the formula above used to calculate?

• Gross Domestic Product

• Inflation

• Economic Growth

• Unemployment

___________ is the measurement of how much an economy's production of goods and services has increased over a period of time.

• Gross Domestic Product

• Economic Growth

• Inflation

• Unemployment

What is the target unemployment rate?

• 0%

• 4-5%

• 7-9%

• 15-20%

Which type of unemployment occurs when people are between jobs?

• Cyclical

• Structural

• Frictional

• Seasonal

Which type of unemployment occurs due to changes in technology?

• Cyclical

• Structural

• Frictional

• Seasonal

Which type of unemployment occurs as a result of fluctuations in the economy?

• Cyclical

• Structural

• Frictional

• Seasonal

Which type of unemployment occurs due to changes in the time of year?

• Cyclical

• Structural

• Frictional

• Seasonal

_________ is a measure of the rate at which prices are increasing. It is measured using the Consumer Price Index.

• Gross Domestic Product

• Economic Growth

• Inflation

• Unemployment

What is the target inflation rate?

• 0%

• 2-3%

• 4-5%

• 7-8%

Which type of inflation occurs when prices rise in response to the demand for goods and services being higher than the supply?

• Cost-Push Inflation

• Demand-Pull Inflation

• Wage-Price Spiral

• Hyperinflation